The Lean Manufacturing Philosophy Views Inventory as an Unnecessary Waste

question 96

True/False

The lean manufacturing philosophy views inventory as an unnecessary waste of resources.

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Definitions:

Express Warranty

A clearly stated guarantee by a seller about the condition, quality, or performance of a product or service.

Basis of the Bargain

Refers to the fundamental expectations or promises that constitute the foundation for the agreement between contracting parties.

Express Warranty

A clear, affirmative promise or guarantee by a seller about the quality or functionality of a product or service.

Basis of the Bargain

A term from contract law referring to the essential facts and terms agreed upon by the parties, influencing their decision to enter into a contract.